Key Points
- Amalgamated Financial CAO Leslie Veluswamy sold 2,500 shares on June 9 at an average price of $43.51, totaling $108,775. After the sale, Veluswamy held 14,215 shares, a 14.96% reduction in the position.
- The stock was trading near its 12-month high, opening at $44.10 and reaching a 12-month high of $44.25, with the shares up 0.9% on the day. The company also has a market cap of about $1.32 billion and a low debt-to-equity ratio of 0.09.
- Amalgamated Financial’s latest earnings missed EPS expectations, reporting $0.80 per share versus the $0.95 consensus, though revenue slightly topped estimates. The company recently paid a quarterly dividend of $0.17 per share, for a 1.5% annualized yield.
Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) Director Maryann Bruce sold 2,089 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $41.39, for a total value of $86,463.71. Following the completion of the sale, the director directly owned 19,942 shares in the company, valued at $825,399.38. This represents a 9.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Amalgamated Financial Price Performance
AMAL stock opened at $44.10 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $1.32 billion, a P/E ratio of 12.82 and a beta of 0.80. The business's 50-day moving average is $41.46 and its two-hundred day moving average is $37.88. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $44.25.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.15). Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%.The business had revenue of $91.36 million for the quarter, compared to analyst estimates of $91.16 million. Analysts anticipate that Amalgamated Financial Corp. will post 3.92 earnings per share for the current fiscal year.
Amalgamated Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Tuesday, May 5th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, May 5th. Amalgamated Financial's dividend payout ratio (DPR) is currently 19.77%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Weiss Ratings upgraded Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Zacks Research downgraded Amalgamated Financial from a "hold" rating to a "strong sell" rating in a research note on Friday, May 1st. Finally, Piper Sandler raised their price target on Amalgamated Financial from $41.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $44.00.
Get Our Latest Research Report on AMAL
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Amalgamated Financial by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company's stock valued at $45,943,000 after purchasing an additional 49,037 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Amalgamated Financial in the 4th quarter valued at approximately $935,000. Abacus Wealth Partners LLC acquired a new stake in shares of Amalgamated Financial in the 4th quarter valued at approximately $2,100,000. American Century Companies Inc. lifted its holdings in shares of Amalgamated Financial by 6.7% in the 3rd quarter. American Century Companies Inc. now owns 589,033 shares of the company's stock valued at $15,992,000 after buying an additional 36,851 shares during the period. Finally, Quent Capital LLC acquired a new stake in shares of Amalgamated Financial in the 4th quarter valued at approximately $659,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.
Amalgamated Financial Company Profile
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Get Free Report)
Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.
In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.
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